The Biden Administration and All Things Politics

[Avery]

The nice thing about the Bamboo Forest hike is that it's flat and right off the road. You also don't get the worst of the Road to Hana as there's a few twists and turns there, but nothing too terrible.

Easy to spot that hike as you'll see a line of cars parked on the south side of the road.

 

[Gameface]

Biden is about to pass his first major legislation today.

If it passes my household will get $4200 in sweet sweet free money! Yum yum give me some!

Do I need it? Sure, I'll take all the free money there is from here to the moon. Would I be hungry without it? No. Would I miss payments without it? No. Will I get all of it? Yes! And I'll take it and I'll spend it like the good little consumer that I am.

If Trump had been reelected we'd be getting this same $1400. The pork would have different sauce on it, but we'd still be having a ****ing BBQ.

 

[Red]

 

[Jazz4ever]

Biden is about to pass his first major legislation today.

If it passes my household will get $4200 in sweet sweet free money! Yum yum give me some!

Do I need it? Sure, I'll take all the free money there is from here to the moon. Would I be hungry without it? No. Would I miss payments without it? No. Will I get all of it? Yes! And I'll take it and I'll spend it like the good little consumer that I am.

If Trump had been reelected we'd be getting this same $1400. The pork would have different sauce on it, but we'd still be having a ****ing BBQ.

No one needs the money.

A majority of the upcoming $1,400 stimulus checks will go towards savings rather than spending, according to BofA survey

Only 36% of respondents said they would spend the money from a stimulus check, with 64% saying they would either pay off debts, save it, or invest it.

markets.businessinsider.com

It's why you're seeing money poured into crypto, gold, meme stocks.....none of these do much for the job market and future outlook of the country.

 

[fishonjazz]

No one needs the money.

A majority of the upcoming $1,400 stimulus checks will go towards savings rather than spending, according to BofA survey

Only 36% of respondents said they would spend the money from a stimulus check, with 64% saying they would either pay off debts, save it, or invest it.

markets.businessinsider.com

It's why you're seeing money poured into crypto, gold, meme stocks.....none of these do much for the job market and future outlook of the country.

No one needs the money lol

Sent from my ONEPLUS A6013 using JazzFanz mobile app

 

[LogGrad98]

No one needs the money lol

Sent from my ONEPLUS A6013 using JazzFanz mobile app

Well america is terrible at saving at all. We are pretty much dead last in individual saving among developed nations. Retirement is not just a concern, is bordering on a crisis. So if some people are able to get some kind of savings going or add to it, that's not a bad thing.

 

[idestroyedthetoilet]

Well america is terrible at saving at all. We are pretty much dead last in individual saving among developed nations. Retirement is not just a concern, is bordering on a crisis. So if some people are able to get some kind of savings going or add to it, that's not a bad thing.

I think you'd be surprised. IIRC, household savings is at all time highs by many metrics. The rate of savings has been in a long increase trend for quite some time. According to the OECD, US is right around the developed world average. I was surprised that Japan's was about half ours. https://data.oecd.org/hha/household-savings.htm

Many economists have been saying for a decade now that we have an oversaving issue, a savings glut.

 

[candrew]

I think you'd be surprised. IIRC, household savings is at all time highs by many metrics. The rate of savings has been in a long increase trend for quite some time. According to the OECD, US is right around the developed world average. I was surprised that Japan's was about half ours. https://data.oecd.org/hha/household-savings.htm

Many economists have been saying for a decade now that we have an oversaving issue, a savings glut.

I think most folks 40 and over have become sort of "doomsday preppers" when it comes to finances. I know I'm saving at a higher rate than I ever have in my life. Part of that is retirement but mostly it's people waiting for the **** the hit the fan once again in this country economically; and they worry this time around their number will be up.

I knew a lot of people in my industry (financial services) within 5 - 15 years to retirement that lost cushy 6 figure+ jobs in 2008 during the meltdown and while I lost track of most of them, I suspect the majority spent the last years of their working life unemployed and/or underemployed

 

[idestroyedthetoilet]

I think most folks 40 and over have become sort of "doomsday preppers" when it comes to finances. I know I'm saving at a higher rate than I ever have in my life. Part of that is retirement but mostly it's people waiting for the **** the hit the fan once again in this country economically; and they worry this time around their number will be up.

I knew a lot of people in my industry (financial services) within 5 - 15 years to retirement that lost cushy 6 figure+ jobs in 2008 during the meltdown and while I lost track of most of them, I suspect the majority spent the last years of their working life unemployed and/or underemployed

This is a lot of it. Savings went negative sometime before 2008. 2005 maybe?

Savings are also up in younger demographics. This might be because of all the 401k matches.

 

[Darkwing Duck]

This is a lot of it. Savings went negative sometime before 2008. 2005 maybe?

Savings are also up in younger demographics. This might be because of all the 401k matches.

What else are you going to do without a pension to look forward to?

 

[babe]

No one needs the money.

A majority of the upcoming $1,400 stimulus checks will go towards savings rather than spending, according to BofA survey

Only 36% of respondents said they would spend the money from a stimulus check, with 64% saying they would either pay off debts, save it, or invest it.

markets.businessinsider.com

It's why you're seeing money poured into crypto, gold, meme stocks.....none of these do much for the job market and future outlook of the country.

Some areas of the country are having huge real estate price run ups, the stock market is on the fly. People realize inflation will happen. What's a "safe" harbor for "money"?

I'm not sure we won't have massive deflation, actually. Running around chasing "hot" investments doesn't work nearly as good as old fashioned production...... jobs.... .

Prices for stuff always relates to the use or need for the stuff. The value of money depends on the wage.

 

[idestroyedthetoilet]

What else are you going to do without a pension to look forward to?

I think this will become quite the serious question in a decade or so. There simply aren't enough assets on the worldwide exchanges for everyone to own enough at reasonable valuations. Multiples will continue to expand and we'll all be asking how high is to much to pay for future income. But there is nowhere else to park.